Fraud Prevention

Fraud will never be eliminated.  There will always be those who have the desire to commit fraud.  However, the risk of becoming a victim of fraud can be reduced.

Most businesses do not invest time in fraud prevention.  There are a number of reasons for this.  Management may consider that there is no risk of fraud, though, of course, such a perception remains only so long as the business is not 'hit' by a fraud - by which time it is too late.  It may be that management does not wish to invest in fraud prevention - seeing it as low on the list of its priorities.

However, this is a false economy.  Recent studies carried out by the Association of Certified Fraud Examiners indicate that businesses lose an average of 6% of revenue each year from one kind of fraud or another.

There is not just the financial impact on the bottom line but also the 'indirect' losses:

  an effect on the morale of the workforce
  management time taken up in dealing with the case
  distracting management focus away from the business strategy

The message is clear.  Prevention is far better than a cure.

fraud policy   Key2 Recoveries has the experience and resources to devise an effective, tailored fraud policy for your organisation.

fraud training   Key2 Recoveries can train your workforce to recognise the common indicators of fraud.

fraud hotline   Recent legislation is helping to promote an anti-fraud culture in the workplace.  A good example is statutory protection now given to so-called whistle-blowers.  Your employees should be encouraged to report any suspicions they have, whether on fellow work colleagues, suppliers or customers.  To facilitate this, we can help you set up a confidential fraud hotline to help you promote the best environment to help your business flourish.